Shop Pay Installments

Shop Pay Installments offers customers the option to pay for their order in installments at checkout, both online and in store. Orders from 50 USD to 17,500 USD are eligible for installments payments.

Your customers can choose between the following installment payment options at checkout:

• Four, biweekly, interest-free payments, for orders from 50 USD to 999.99 USD.
• Monthly payments for orders from 150 USD to 17,500 USD. Monthly installment orders are interest-bearing from 10 to 36% APR, and may be paid in three, six, or twelve months depending on the purchase amount.

Note

Premium installments options, including 0% monthly financing and longer terms, are now available to eligible merchants. Learn how to check if your store is eligible.

When a customer views your products, the following information about Shop Pay Installments is displayed:

• Calculated installment payment amounts.
• Detailed information for customers who want to learn more about Shop Pay Installments.
• The latest compliance and regulatory information.

Shop Pay Installments can also improve conversion rates and average order value by letting customers know that they have the option to pay for certain orders in installment payments.

Activate Shop Pay Installments

Note

Premium installments options, including 0% monthly financing and longer terms, are now available to eligible merchants. To check if your store is eligible, follow the steps to activate Shop Pay Installments.

If you're eligible to use Shop Pay Installments, then you can activate it.

Steps:

1. From your Shopify admin, go to Settings > Payments.
2. In the Shopify Payments section, click Manage.
3. In the Shop Pay section, check Shop Pay Installments, and then click Save.
4. Optional: To check your eligibility for Premium installments options, click Manage under Shop Pay Installments.
   • If you're eligible for the premium package, then click Select premium package to accept the premium financing options that you're offered.

Shop Pay Installments for Shopify POS

If you use Shopify POS to sell your products in person, then you can offer Shop Pay Installments to customers in store. Learn how to activate Shop Pay Installments for Shopify POS.

Refunding an order made using Shop Pay Installments

When you refund an order that was made using Shop Pay Installments, you send the payment back to the customer. If a customer requests a refund for an order they've made monthly payments for, then their paid interest isn't refunded to them. Interest is the cost of borrowing, and isn't refundable.

The Shop Pay Installments transaction fee isn't returned to you when you issue a refund. Learn more about creating returns and refunds.

Online checkout experience for customers using Shop Pay Installments

To pay for an order using Shop Pay Installments, a customer goes through the following steps:

1. The customer adds items to their cart.
2. The customer checks out using Shop Pay.
3. The customer selects to pay in installments.
4. The customer reviews all of the installment payment options that are available to them, and then chooses an option.
5. The customer reviews their purchase, and then makes their first payment at checkout.

The remaining payments are automatically charged to the customer's card based on the payment schedule they choose. Customers get an email reminder before each payment is charged.

After the order is completed, you receive full payment for the order upfront, excluding the fee incurred for using Shop Pay Installments.

Shop Pay Installments Purchasing Power

Early access

The Shop Pay Installments Purchasing Power feature is in early access and is available only to certain merchants.

The Shop Pay Installments Purchasing Power feature lets your customers check whether they're eligible for the Shop Pay Installments directly from your product page. Your customers can view their purchasing power with the Shop Pay Installments and available installment payment options at the beginning of their purchase journey. This can enhance your conversion rates and increase your average order value. To use this feature, you need to add the Shop Pay Installments product page banner to your product pages.

Your customers can check their eligibility and purchasing power for Shop Pay Installments on product pages only for products with a value of at least 150 USD or when the potential shopping cart value is at least 150 USD.

To check whether your customer is eligible for the Shop Pay Installments, a customer goes through the following steps:

1. The customer goes to the product page of the product that they want to buy.
2. In the Shop Pay Installments product page banner, the customer clicks Check your purchasing power.
3. The customer signs up or logs into their Shop Pay account.
4. The customer clicks Check if you qualify to check their eligibility for Shop Pay Installments.
5. The customer reviews all of the installment payment options that are available to them, and then clicks Continue to checkout.
6. The customer chooses the installment payment option at checkout, and then makes their first payment at checkout.